China encourages industry restructuring in western regions

BEIJING - China has issued a set of tailor-made lists of industries eligible for preferential policies in less-developed western areas.

With each list made specifically for the corresponding provinces and municipality, the policies hope to help bolster local industries.

Starting Oct 1, enterprises engaged in the listed industries will enjoy tax breaks and support on lending and land, said a statement issued by the National Development and Reform Commission on Wednesday.

The list was issued on the belief that agriculture in the west is still weak and the ratio of heavy industry against local economy is relatively high. The result is many economies rely too much on resources, which puts pressure on the environment, the statement said.

They also hope to help advance the west's underdeveloped service sector.

The list aims to better tap the comparative strengths of the west, boost industrial restructuring there and provide more policy support to the areas, it said.

Copyright 1995 - 2010 . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.